Nordstrom shares took a brief tumble after US President Donald Trump tweeted that the department store chain, which decided to stop selling Ivanka Trump’s clothing and accessory line, had treated his daughter “so unfairly”.
The company had said last week that it made the decision based on the brand’s performance, and that each year it replenishes about 10% of its supply with new products.
Mr Trump tweeted: “My daughter Ivanka has been treated so unfairly by @Nordstrom. She is a great person – always pushing me to do the right thing! Terrible!”
My daughter Ivanka has been treated so unfairly by @Nordstrom. She is a great person — always pushing me to do the right thing! Terrible!
It was re-tweeted more than 6,000 times in less than an hour.
Nordstrom did not immediately respond to a request for comment.
Shares in the Seattle-based chain traded at around 42.70 dollars before the president’s 10.50am tweet, then fell to 42.48 dollars afterwards in a flurry of trading. The shares recovered to around 42.80 dollars by midday.
A social media campaign called Grab Your Wallet has urged a boycott of stores that stock Ivanka Trump or Donald Trump products.
Ivanka Trump has said she would take a leave of absence from her clothing and accessories business as well as the Trump organisation.
Rosemary K Young, senior director of marketing at Ivanka Trump, said last week that the brand is expanding and saw “significant” revenue growth last year compared with the previous year.
It is not the first time Mr Trump’s tweets have at least temporarily affected a stock.
US carmakers, Boeing and Carrier have also suffered after his comments on Twitter.